coverage endedJul 21, 2026, 9:15 PMLive markets: Bitcoin pulls back from five-week high on new Trump threats over IranBitcoin ETFs have pulled in roughly $727 million over the past week, the most sustained stretch of buying since the record outflows of June.Bitcoin rises above $66K (CoinDesk)U.K. bitcoin treasury company Satsuma selling all BTC and shutting downShareholders of U.K.-based bitcoin treasury company Satsuma have overwhelmingly voted to sell its remaining 668 BTC, return capital, and shut down.The company is little-known and its holdings are tiny, but its Chief Bitcoin Strategist, Mark Moss, is a familiar name in crypto circles.Bulls will surely see this as yet another step in the bottoming process for the bitcoin price.If 2025’s crop of hastily formed digital asset treasury companies was a topping sign, then 2026’s growing group of DATs abandoning those strategies might be just the opposite.Satsuma now joins Adam Back’s Bitcoin Standard (which couldn’t win shareholder approval for its SPAC merger) and Empery Digital (selling its bitcoin to go into the data center business), among others.Twenty One Capital sheds 9% as CEO Jack Mallers departsMost crypto-related stocks are nicely in the green on Tuesday as bitcoin rose past $66,000 for the first time in several weeks. Not moving higher, though, is Twenty One Capital (XXI) after announcing the exit of its CEO Jack Mallers.Roughly 30 minutes before the close of trade, XXI is down 9% to $4.84 after earlier hitting a new record low of $4.27.Alongside Mallers’ departure was the end of discussions for XXI to merge with Mallers’ bitcoin financial services company Strike.XXI, under new CEO Raphael Zagury, has promised to build an operating company with real cash flows around its 43,000-plus bitcoin holdings — timing and details still to be determined.Crude oil rises to six-week high as Trump threatens attack on Iran nuclear site“We’ll be hitting that area pretty soon, and very heavily,” said the president, speaking with reporters at the White House.The “area” is known as Pickaxe Mountain, and it’s thought to be the place where Iran could have moved key components for building a nuclear weapon, reported the FT.The price of WTI crude oil is on the rise again, hitting $85 per barrel, its highest level since early June. Brent crude is up to $91 per barrel, with Goldman Sachs suggesting it could rise to $120 if the Strait of Hormuz were to stay “disrupted” into the fourth quarter.Stocks remain near session highs, the Nasdaq up 1.4%, but bitcoin (BTC) has pulled back about 1.5% from its highs, now trading back to $66,000.Telegram plans crypto wallet launch as TON rebrands to GRAMTelegram is preparing to introduce a self-custody cryptocurrency wallet to its global audience of nearly 1 billion users this summer, according to CEO Pavel Durov. The announcement follows last month's rebranding of The Open Network's native token from Toncoin to GRAM. Telegram has also reshaped the network's governance by taking over as the ecosystem's main steward and largest validator, replacing the TON Foundation. While Durov offered few specifics about the wallet's features, he said users can expect "instant zero-fee crypto transactions," suggesting a focus on faster, more accessible digital asset transfers within the messaging platform.Movement Labs files for Chapter 11 bankruptcyMovement Labs, the company behind the Movement blockchain, has filed for Chapter 11 bankruptcy, casting uncertainty over a project that recently shifted away from Ethereum scaling toward cross-border payments. Movement was built to connect blockchains using the Move programming language with Ethereum through a layer-2 network. In June, the company announced plans to focus on stablecoin-powered remittances, dollar savings products and payment infrastructure after securing access to licensed payment systems in the U.S., Canada and the European Union. The strategic pivot reflected growing competition among Ethereum layer-2 networks, many of which are seeking practical financial use cases beyond blockchain scaling.Fed rate hike odds quietly move higherIt was a bit more than one month ago when the Federal Reserve, under new Chairman Kevin Warsh, shocked markets with its hawkish outlook.The news had traders fully expecting a rate hike at the Fed’s July or September meeting and helped send bitcoin to a multi-year low around $58,000.In the weeks since, though, pleasing inflation news combined with mildly dovish language from Warsh himself and New York Fed President John Williams, had traders re-assessing expectations for imminent tightening.That’s changed in the past few days. Without any official economic news or central bank chatter, interest rates have surged. The 10-year Treasury yield has risen to near a multi-year high of 4.63%, and the 2-year yield — most sensitive to the Fed’s actual policy — has jumped to near a cycle high of 4.255%.Blame the re-ignition of the Iran war and its effect on the price of crude oil, which has surged back to almost $85 per barrel after falling to about $70 earlier this month.The odds of a July rate hike have risen to 22% from 12% about a week ago, and the odds of one or more rate hikes by September have jumped to about 70% from 50%.Risk markets, for the moment, don’t seem concerned with the prospect of tighter U.S. monetary policy. Bitcoin continues its rise, now more than 15% above the June low at $66,600.Intel planning layoffs in data center group: ReportOne of the bellwethers of the AI trade, as well as President Trump’s industrial policy, Intel (INTC) is planning another round of layoffs in its data center group, according to The Oregonian.“As part of our broader strategy to become a more focused and efficient company, [the data center group] is aligning its organization to ensure it has the right roles and skills in place to position the business for long-term success,” said Intel in a written statement to the paper.Intel, over the past year, has risen about fivefold since the U.S. government took a stake in the company, alongside generally surging stock prices for chipmakers.Shares are higher by 5.8% on Tuesday.The company reports second-quarter earnings after the close on Thursday.Grayscale hires Sebastian Pulido to lead onchain asset managementGrayscale has appointed Sebastian Pulido as managing director and head of onchain asset management, a newly created role focused on developing investment products for institutional clients. Pulido joins from Aave Labs, where he led institutional and DeFi strategy, and previously held roles at J.P. Morgan's blockchain business and Goldman Sachs. Reporting to head of index Steve Vanourny, he will oversee strategies designed to meet growing demand for onchain investment solutions. The appointment comes as Grayscale expands its digital asset product lineup after filing for the Grayscale Worldcoin ETF with the Securities and Exchange Commission on Monday.Schwab says crypto markets may be starting to reward fundamentals over hypeCrypto markets may be starting to reward fundamentals instead of speculation, according to analyst Jim Ferraioli. After adjusting returns for bitcoin's (BTC) influence, he found that most major cryptocurrencies have performed as expected, while TRX and ZCash stood out for reasons tied to network-specific demand. TRX, which is up 15% year-to-date, has benefited from its role in stablecoin transfers, while ZCash, up 7%, has gained from renewed interest in privacy. Ferraioli also points to BNB's underperformance despite a deflationary token supply, arguing that falling network activity may be weighing on its price. The trend suggests investors are paying closer attention to utility, usage and token economics, he argued.Circle and Coinbase lead gains among crypto stocks on Clarity Act hopesCrypto-related stock prices are broadly higher early Monday as bitcoin (BTC) rises past $66,000 for the first time in about five weeks.Coinbase (COIN) and Circle (CRCL) are showing particular strength, though, each up about 9%.Boosting those names is progress toward the possible passage of the Clarity Act, after an overnight report that President Trump had agreed to an ethics provision that had previously stalled the bill.Other movers include Bullish (BLSH), up 5.5%, Gemini (GEMI), up 5.3%, and Galaxy Digital (GLXY), up 4.8%.Bitcoin hits five-week high above $66,400 ahead of U.S. stock market openExtending its 24-hour gain to just shy of 3%, bitcoin (BTC) hit $66,400 for the first time in about five weeks.Ether (ETH), XRP (XRP), and solana (SOL) are up similarly.The advance comes as U.S. stocks are set for sizable opening gains, led by the Nasdaq’s 1.2% advance as recently beaten-up chip stocks rally.The news out of Iran isn’t great — with attacks continuing and oil again higher — but, for the moment, markets are looking past that conflict.For crypto in particular, movement on advancing the Clarity Act could be helping to improve the mood. Odds of its passage have risen to nearly 50% after a report that President Trump had agreed to a key ethics provision.Jack Mallers exiting as XXI Capital CEO as deal for Strike collapsesTwenty One Capital (XXI) Tuesday morning announced the exit of CEO Jack Mallers to be replaced by board member Raphael Zagury, the founder of bitcoin miner Elektron Energy.Mallers will focus his efforts on Strike, a bitcoin financial services company he founded and leads as CEO.Earlier this year, Twenty One had announced plans to merge with Strike (and Elektron Energy), but that deal is no longer being contemplated.XXI is the second-largest corporate holder of bitcoin with 43,514 coins, according to BitcoinTreasuries.Net.XXI shares are little changed pre-market at $5.37, but down from a high above $30 during last summer’s digital asset treasury company frenzy.London Stock Exchange plans 24-hour weekday trading venueThe London Stock Exchange (LSEG) plans to introduce a near-continuous trading venue aimed at digital, algorithmic and agent-based trading. Client testing on the platform, called LSE 24, is expected to begin by the end of the year, with exchange-traded products scheduled to launch in the first half of 2027, LSEG said.Hedge funds are dumping tech stocks at the fastest pace in a decadeHedge funds have sold U.S. information technology stocks in six of the last eight weeks, making the eight-week total the largest in at least 10 years, according to The Kobeissi Letter, citing prime brokerage data. Technology was the single most-sold U.S. sector last week.That has cut tech's share of hedge fund market exposure to its lowest since February, and at the current pace it could fall to a five-year low as early as next week. The takeaway is that funds are moving to the sidelines, not rotating from one trade into another.For bitcoin, broad de-risking is not the same as the AI trade simply moving elsewhere. It leaves crypto without the risk-on backdrop that a straightforward tech-to-chips rotation still provided.Bitcoin ETFs post a fifth straight day of inflows, the steadiest run in monthsU.S. spot bitcoin ETFs took in about $227 million on July 20, a fifth consecutive day of net inflows for the first time since late April, per SoSoValue data. Ether ETFs added about $38 million, led by BlackRock's ETHA.The five-day run has pulled in roughly $727 million, the most sustained stretch of buying since the record outflows of June. Total bitcoin ETF assets have climbed back to about $79 billion from a July low near $75 billion. BlackRock's ETHA drove the ether side with about $34 million.Bitcoin has held its range near $63,000 as last week's chip-driven selloff paused, and the return of the ETF bid is the piece that had been missing through a quarter of mostly outflows.The test is what it holds through. The Fed meets July 28 and 29, and Big Tech earnings land this week, with Alphabet, Tesla and Intel reporting the numbers that will show whether AI spending, the trade bitcoin has moved with all month, is still climbing.12345678910Crypto Flows, Share and the Selective RotationCrypto Flows, Share and the Selective RotationMarkets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.Jul 22, 2026Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.Why it matters:Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.View Full Report